How to make an offer to purchase a property?

What is the deadline for a purchase offer?

The purchaser indicates in his proposal a period during which the offer is valid. This period is generally set at one or two weeks. At the end of this period, the offer becomes null and void. No sum of money accompanies the purchase offer.

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If the purchase offer does not provide for a period of validity, the purchaser may withdraw from his offer until it is accepted by the seller. Moreover, it is not necessary, at this stage, to subject the offer to conditions (such as obtaining a mortgage, for example).

The seller's options to the purchase offer

Upon receipt of an offer to purchase, the seller has three options:

1. Accept the purchase offer
2. Make a counter-proposal
3. Refuse the purchase offer

The purchase offer is accepted

If the offer to purchase is accepted by the seller, the sale is concluded. Indeed, according to the law, a sale is perfect in case of agreement on the thing and on the price. The parties can then draft a sales agreement generally written either before a notary or with a real estate agent.

The purchase offer is negotiated

If the purchase offer does not suit the seller, he can make a counter-proposal in which he can propose a new price or new conditions to the buyer.

The purchaser is of course free to accept or refuse this counter-proposal. If he refuses it, the negotiation can continue or be interrupted.

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The purchase offer is refused

In case of rejection of the purchase offer by the seller, the purchaser is released from his purchase proposal. The seller cannot go back on his refusal, even if he is still within the validity period of the offer.

The seller's silence throughout the period of validity of the offer is equivalent to a refusal.

What is the withdrawal period after an offer to purchase?

Once the offer has been accepted or when the parties have agreed on the conditions of the sale, the seller and the buyer sign a sales agreement.

After signing, the buyer has a right of withdrawal for a period of ten days from the notification of the act. This period begins as soon as the deed is hand-delivered when it is drawn up by a notary.

In other cases, the date of first presentation of the registered envelope starts the withdrawal period. The sale can also be canceled if one of the conditions precedent provided for in the compromise has not been fulfilled, obtaining a mortgage for example.

What is the difference between the compromise of sale and the promise of sale?

The notary's response on video with the intervention of Maître Noblinski in our program Les Clés de l'immo presented by Olivier Marin.

The search for financing after your purchase offer

You have reached an agreement with the owner on the sale price. So all you have to do is look for a mortgage to finance the operation.

Once the sales agreement has been signed, waste no time getting started with the banks.

1. First, contact your bank to ask for its conditions (real estate rate, insurance rate, application fees, etc.).
2. Do not hesitate to call on a financing broker to compare his proposal with those of other banks.

Compare the real estate rate but not only...

To compare, you will need to rely on the APR, the annual percentage rate of charge for the proposed mortgage, which includes all the costs related to the loan (insurance, interest, guarantee, etc.).

The interest rate is not the only indicator that will influence the total cost of your credit. Borrower insurance (and coverage) is also something to compare, especially if you have health risks.

The financing found, all that remains is to sign the authentic deed at the notary's

If the bank's proposal suits you, you can lift the condition precedent for obtaining a loan from the sales agreement.

Between the signing of the sales agreement and the signature at the notary, it will often be necessary to wait 3 months. So arm yourself with a little patience, you will soon be the proud owner of your "home sweet home".